The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-08-21
THE COLLAPSE OF IVES & co
The Receiver Reports that Books in
Use Previous to April / Are Missing.
Statement Showing Liabilities of $16,50 900
and Assets $23, 200, 000-Belief that Sc
cured Loans Will Take Everything.

New York, April 20-Assignee William n.
Cromwell, of the firm of Henry S. Ives & Co.,
obtained from Judge Donohue yesterday after
noon an order to compel the three partners in
the firm to appear on Monday in tie Court of
Common Pleas and explain what has become of
the ledger, the cash book the security book, and
two blotters covering the year 1886 and the early
part of 1887. The firm opened new books on
April last, and the assignee has been unable
to obtain the books referred to from
the members They profess not to know
what has become of them. They important,
because, although the books in use since April
l. appear to be straight. there is nothing to show
that they were begun on a correct basis. The
clerks make affidavit that all the books were in
the vault on Monday, Aug. 8, about the time
the Cincinnati creditors arrived from the West
with Ives. 1t is said that the assignee threat
ened Ives and mis- partners with arrest if they
did not produce the books, but they positively
declared that they knew nothing of their whe ere
abouts
Assignee Cromwell this morning said to re-
porter that he was sorry that anything had
leaked out concerning his action in procuring an
order of court to compel Ives g. Co. TO produce
certain missing books. He said certain brokers
grasped at every possible feature Of
market, and he had, for that reason,
all along avoided giving out any information
which could be converted into sensation. The
statement, Eow nearly completed, is made" he
said, from the books as they exist. These are
a complete set, carefully kept, and telling a
nected story OF the firms transactions" Mr..
Cromwell would not state what the missing
books were, but said that he would make his
statement Of the affair in court Monday
morning.
The five experts who have been at work dur
ing the past week on a statement of the posi-
ton of Ives & Co completed their work to-day,
and after consultation with Henry s. Ives,
uh0 cd in ffican of Crnr wall a,
until the figures were given ont.
it was decided to only give brief
the assets in detail The list of assets includes
many shares of bank stock, the largest of which
is LISP shares of the Merchants National
Bank, of Toledo In giving the statement out
the assignee explained that he made no attempt
appraise the value of the stock, and simply
took the face value, although ne places the
Chemical Bank stock at 81, 700 per share The
statement OF liabilities given by the assignee is
as follows
Loans secured ACKNOWLEDGEMENTS. So, $50, pa
B blls RsyaDle secured - a4 1855
Miscellaneous. Observation-Disclosures 80. 564
Total. .479. 723
The assets are:
46 S96 shares Cincinnati Hamilton g.
Dayton preferred face value $4. $50. 600
27,9O6 shares do common 2!9O, 600
1O4, O13 Dayton, Fl Wayne & Chicago. 10, 4Ol 300
S.S4O shares Terre Haute & Indianapo
lis half stock. 442, 900
1881 shares Terre Haute & Logansport,
half stock Observation-Disclosures. 296,5OO
LILO shares American Bank Note Co.. $500
50 shares Chemical 4 rational Bank 229, 800
:33 shares Con 5inental National Bank 3, 800
1913 shares Mineral Range railroad
1852 shares Merchants National Bank.
of Toledo lis,
35 shares National Bank of Commerce,
New $500
ton ...-... $500
"a shares Seventh National Bank. 94oO
100 shares Ohio Valley Co----.-- 10000
2 500 shares Hancock & California r. r. $50 900
$500 shares Dayton & Michigan r. R.,
half stock Z90OUO
400 shares New York Central. 10000
Michigan R. - 1902 200
Chicago & Northwestern con. rs 100 $1,000
Mineral Range gen. mort. 149 100
Penn. r. r, Gigs Observation-Disclosures. $4,000
Seneca Falls 81 Waterloo 6s-- 5000
Toll Del. q Burlington, equipment-.. So 900
Cincinnati, Richmond & Chicago U.s.. 65 900
Chicago 81 Atchison Bridge Co. 7s.----. 1000
y. s. coupons, Observation-Disclosures sos 600
r. s. coupons, 4l9s 1900
Cincinnati Hamilton & DAYTON l2s--- 200 900
st. L., V. g. Terre Haute 7s--------- 100000
New Orleans, d. & N. Y. 4s.----..--. 116,5O0
Toledo. Cincinnati & ST. l.. coupons. 81 800
Miscellaneous assets $4,000
c.. H. s. I. M, collateral for certain
advances to said company. 1,25OOO
Total. .s2s, Use, 800